Ex-Nokia Team to Launch New Phone

By

Sven Grundberg

Updated Oct. 2, 2012 3:19 p.m. ET

STOCKHOLM—A group of former Nokia Corp. employees has raised €200 million ($258 million) from a variety of telecommunications-industry players to introduce a new mobile operating platform based on discarded Nokia technology, and the group will unveil a new phone next month.

Finnish start-up Jolla Ltd. made waves earlier this year when it announced its intention to use Nokia's MeeGo operating system as the basis for a new line of...